Bank of Mexico Lowers Growth Estimates After Weak Start to Year

MEXICO CITY—The Bank of Mexico on Tuesday lowered its forecast for economic growth in 2015, citing a drop in the country’s oil production and more modest expectations for the U.S. economy.

In its quarterly inflation report, the central bank said it expects gross domestic product to expand by 2% to 3% this year, down from the 2.5%-3.5% estimate it had three months ago. For 2016, the central bank estimates GDP will grow between 2.5%...